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we have got the bush tax cuts in 2007 our deficit was $160 billion. that number almost sounds -- $160 billion. it's a spending problem. >> bill: i want you to do me a favor and call diane sawyer after we get off the air i want you to tell her as kristen pointed out in 2007 the highest revenue in the history of the republic came into washington because the taxes were fairly moderate and people were investing and capital gains was kicking in at the 15 and 30% rate and all that money was coming in washington and people were working and all that money was coming to washington. and you can tell diane that, you know, just taxing and spending isn't going to help us. you can do that? will you do that? >> i will. she is my bff i will be calling her after get off the show. dying to hear what you think too. >> bill: always. >> i don't know anybody who thinks that everything is going to be solved just by raising tacks. i keep hearing republicans say. this look, obama recommended or proposed cutting the defense department and he was attacked viciously by republics
we have got the bush tax cuts in 2007 our deficit was $160 billion. that number almost sounds -- $160 billion. it's a spending problem. >> bill: i want you to do me a favor and call diane sawyer after we get off the air i want you to tell her as kristen pointed out in 2007 the highest revenue in the history of the republic came into washington because the taxes were fairly moderate and people were investing and capital gains was kicking in at the 15 and 30% rate and all that money was...
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last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be the case for long if we have a recession followed by a typical bear market. lou: how long to get to recession -- >> we can get there pretty quick. in fact, some of the down downdrafts are starting to form. we saw those in the q3 gdp numbers were sinking into @%ntraction. lou: 2.7 -- >> employment reports gnar november and december, not surprised if gains in private sector payrolls are well over 100,000 new jobs. lou: that would not be good. baseline at least, i think, for passable is 125. what's your judgment? >> about the same, okay, that's a c-minus grade, get a "c" if we hit 150. lou: might s
last i looked at the trade deficit, we were, again, lagging and uke sking popped water. there's arising deficit stripping our gdp. >>nd right now europe is in a relative deep recession. we're still above water. lou: you jumped all over the punch line because you talk about things not making sense. folks, this is not making sense. i'm delighted because people have wealth left in the equities market, the bond market. w long will that be the case if we go over the cliff? >> won't be...
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Dec 7, 2012
12/12
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the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business environment that allows for innovation. lowering the federal deficit actually false down to 40. not as much confidence there as a part on the other side. we been said the training faces a number of challenges including but not limited to large budget deficits, national debt, slower economic recovery, high unemployment, deep political divide on many issues. do you believe we will overcome these challenges in the foreseeable future as we've done in the past, or do you think these are unique set of challenges that are so serious that we might not be
the deficit and debt will improve as 34%. but the one thing they are certain is that taxes will increase. and in the next four years how it affected you think the federal government will be on each of the following issues. we read a list of these issues, we rotated those. this is how it basically stacks up. ensuring long-term future of entire programs such as social security and medicare, 65%. 64% creating jobs, 64% improving public education, growing the economy, creating a business...
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Dec 4, 2012
12/12
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and he ran on a plan by saying that those savings would then be aplayed to deficit -- applied to deficit reduction, which we know is so critical. and we saw what people thought about that. he was reelected by a wide margin. the american people want us to come together, to work together in a bipartisan way to reduce the deficit, and they support the approach that starts by making sure that middle-class families are not once again asked to pay for the full burden of what needs to be done. they support an effort that says, extend tax cuts for middle-class families and ask those at the very top, who have gotten extra tax cuts, to forego those and chip in to be part of the larger deficit reduction solution. unfortunately, yesterday, speaker boehner ignored this when he offered a republican counterproposal to the president's proposal that would essentially raise taxes on middle-class families and cut medicare for our senior citizens. as senator reid said yesterday, it flunks the test of balance. to get the kind of revenue to reduce the deficit that is needed, and that we all agree on has to be
and he ran on a plan by saying that those savings would then be aplayed to deficit -- applied to deficit reduction, which we know is so critical. and we saw what people thought about that. he was reelected by a wide margin. the american people want us to come together, to work together in a bipartisan way to reduce the deficit, and they support the approach that starts by making sure that middle-class families are not once again asked to pay for the full burden of what needs to be done. they...
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trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is preeminently where a president has to lead and be specific. you can't expect the republicans to lead on an area that he's dominated in politically. >> here's an entitlement idea, a way to help support medicare, let them dictate price -- drug prices. >> steve, this, to me, is a much more interesting debate than tom and dan. because i think the president has done exactly what he's done in the past in this negotiating. he's not grinding it out with speaker boehner. he's out giving speeches, rallying his base. meeting with groups like moveon.org.
trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is...
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Dec 2, 2012
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i increased the size of the debt and the deficit. i got everything i wanted. the place is a mess. and look, i got re-elected. so, you know, what's so hard about me continuing to do that and blaming it on them because obviously i'm very good at that. and that's basically where he's going here. and the republicans, i think, are not very good poker players. first of all they signaled that they are kind of really reluctant to go over the cliff, and i think if you are in this kind ever a showdown you have to say, you know, bring it. come on. >> you'll do it. they will get blamed for it, though, if that happens. there's no question. the president is already signaling that. that wouldn't be a pleasant outcome for them. would you say they should suggest to the president they would be willing to do that and then maybe he would give 2nd end? >> i think they have to show that he is in negotiations and that he has to give and they are willing to give and if they just say we are so afraid of getting blamed for that, of course he's going to roll right over them. >> kim, where do you think the r
i increased the size of the debt and the deficit. i got everything i wanted. the place is a mess. and look, i got re-elected. so, you know, what's so hard about me continuing to do that and blaming it on them because obviously i'm very good at that. and that's basically where he's going here. and the republicans, i think, are not very good poker players. first of all they signaled that they are kind of really reluctant to go over the cliff, and i think if you are in this kind ever a showdown...
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Nov 29, 2012
11/12
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as you know, we have a trillion dollar annual deficit and this would not close that gap at all. so the president needs to come up with a plan and for better or worse going to require leadership. no member of the senate or the house is going to be able to do this, this is something the president has to do by himself and he can't do it on the campaign trail. >> let me ask you this because you wrote an op-ed today and you wrote about divided government about the deal. you said divided government means that neither democrats nor republicans will be able to pass legislation along strictly partisan lines. it means bipartisan compromise is the only way to avoid further gridlock. we cannot tax our way back to budget surpluses and economic prosperity. without major spending cuts and entitlement reform, we will continue running huge deficits regardless of what we do on the revenue side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be $850 billon a year would you do that? >> the president has said a lot of t
as you know, we have a trillion dollar annual deficit and this would not close that gap at all. so the president needs to come up with a plan and for better or worse going to require leadership. no member of the senate or the house is going to be able to do this, this is something the president has to do by himself and he can't do it on the campaign trail. >> let me ask you this because you wrote an op-ed today and you wrote about divided government about the deal. you said divided...
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Dec 1, 2012
12/12
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chaos, if they punt, if it's a small deal, it's going to be a sign that we're not going to get the deficit reduction that we need. >> and that's the challenge for the president. because, yes, he does have all the leverage. we talked about that. he won the election of course. but this is a test of leadership, and the american public does not want to go over that cliff because, by the way, they want the tax cut for the middle class to remain in place. that's the ultimate cliff there and the bottom line is we don't want those to expire. gwen: as we approach it we begin to try to read the tea leaves. he brings the c.e.o.'s to the white house and they had the goldman sachsco guy saying i'm pretty optimistic we'll come up with a deal. and others think we'll good over the cliff. what do we read into that? >> there's a rule that denny has earth enunciated and people are outraged. it's a majority institution. the speaker is not going to put something on the floor that doesn't get a majority of the majority. if john byner puts something on the floor that raises taxes, they're going to explode. >> yo
chaos, if they punt, if it's a small deal, it's going to be a sign that we're not going to get the deficit reduction that we need. >> and that's the challenge for the president. because, yes, he does have all the leverage. we talked about that. he won the election of course. but this is a test of leadership, and the american public does not want to go over that cliff because, by the way, they want the tax cut for the middle class to remain in place. that's the ultimate cliff there and the...
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Nov 29, 2012
11/12
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raging deficits, not enough revenues and we needed to cut some spending, too. we needed to make sure that people got their unemployment benefits. tip o'neill realized that he was speaker of the house. not speaker of the democrats. and he had that magic. the magic to him was 218 votes. and that's what i wish john boehner would do. because if he took a page out of tip o'neill's book, we'll be off this fiscal cliff and i compliment congressman cole for his courage in saying, you know, the president's given us 98%, essentially, of what we want. let's take it and we'll argue over the millionaires and the billionaires later. >> you know, you're probably one of the really key leading progressives in the united states senate. i've watched your heroic campaigns every six years. i'm walls in always in wonder of your ability to stick to principles and win big in the biggest state. how is this going over, the view you're taking now, which we're all in this together to some extent? it has to be a 60/40, something like that, deal. how is that going over with your colleagues
raging deficits, not enough revenues and we needed to cut some spending, too. we needed to make sure that people got their unemployment benefits. tip o'neill realized that he was speaker of the house. not speaker of the democrats. and he had that magic. the magic to him was 218 votes. and that's what i wish john boehner would do. because if he took a page out of tip o'neill's book, we'll be off this fiscal cliff and i compliment congressman cole for his courage in saying, you know, the...
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Nov 29, 2012
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>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a primary to challenge saxby chambliss. are you any closer to a season? tell me what you're thinking and who is encouraging you to do that. >> well, you know, i said all along, no i'm not going to do this. i've been dismissive. in the past couple days, a number more prominent names have been calling and saying shy do it. i feel i owe them more consideration. i'm not closer to thinking i will do it, but i'm thinking about it more. my wife is adamant if i do it, i will be buried in the backyard before i announce. i think saxby chambliss, it's time for him to be primaried. >> your wife will bury you
>> we had 18 debt an deficit commissions since ronald reagan became president in 1981. in more than half of those, medicaid, medicare an social security were supposed to be part of fixing the debt and deficit, it never happened. if they kick the can down the road again without fixing entitlements in the process, entitlements still won't get fixed. >> we asked you to comment on the news and then sometimes you make news. the news about you, it says you are considering running in a...
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Dec 2, 2012
12/12
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a lousy economy for four years, i left unemployment high, i increased the size of the debt and the deficit, i got everything i wanted, the place is a mess and look, i got reelected. so, what's so hard about me continuing to doing that and blaming it on them. obviously, i'm very good at that and that's base clr where he's going here and the republicans i think are not very good poker players, they're signaled they're relucks tennant to go over the cliff. if you're in this showdown, i is a, come on, bring it. >> paul: they will get blamed if that happens and the president is signaling that. that wouldn't be a pleasant outcome for them. you're saying they should suggest to the president we had he' be willing to do that and maybe he'll give at the end? >> yeah, i think they have to show that they are it, that he's in a negotiation and that he has to give and that they're willing to give and if they just say, look, we're so afraid of getting blamed for that, of course, he's going to roll over them. >> kim, where do you think the republicans are? where should they go here? do they have real opti
a lousy economy for four years, i left unemployment high, i increased the size of the debt and the deficit, i got everything i wanted, the place is a mess and look, i got reelected. so, what's so hard about me continuing to doing that and blaming it on them. obviously, i'm very good at that and that's base clr where he's going here and the republicans i think are not very good poker players, they're signaled they're relucks tennant to go over the cliff. if you're in this showdown, i is a, come...
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Dec 3, 2012
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we need to get serious about our deficit and debt that are burying our children's future. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. martha: we have brand-new details on the deadly bus crash that happened in florida. police say the bus driver was confused and lost when he chose the wrong route coming out of miami airport. the top of the bus crumpled after the crash and killed two passengers. it had 32 jehovah's church members on board, they were heading to a conference. bill: if you wash watching "fox news sunday" john boehner described his reaction when the president presented its plan for the fiscal cliff. > >> i said you can't be serious. we have 7 weeks went election and the end of the year and three those weeks have been wasted. bill: flabbergasted, rich. wasting time. three weeks gone b
we need to get serious about our deficit and debt that are burying our children's future. [ man ] ring ring... progresso this reduced sodium soup says it mahelp lower cholesterol, how does it work? you just he to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. martha: we have brand-new details on the deadly bus crash that...
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Dec 6, 2012
12/12
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then we get deficit reduction and it's a lot easier to do. i think the number is just enough, as i said, but it's still hard to get to. and it's going to require the business community coming in and saying to republicans in both the senate and the house, there's a lot of stuff in here we don't like, a lot of special interests won't like it, but the business community at large, particularly big business, saying this needs to get done and needs to get done before new year's eve. >> just do it. >> just do it. all right. >> all right. >> failure is not an option. >> it's not. it really isn't. >>> hillary clinton may insist she's leaving politics, but a new poll shows the majority of americans hoping she has a change of heart. the latest abc news/"washington post" poll shows 57% would vote for clinton in a 2016 presidential bid. 37% oppose of a potential campaign. clinton also has strong support in her home state of new york. in a siena college poll, 64% of new york voters say she should make a run, but new yorkers aren't as enthusiastic about the
then we get deficit reduction and it's a lot easier to do. i think the number is just enough, as i said, but it's still hard to get to. and it's going to require the business community coming in and saying to republicans in both the senate and the house, there's a lot of stuff in here we don't like, a lot of special interests won't like it, but the business community at large, particularly big business, saying this needs to get done and needs to get done before new year's eve. >> just do...
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Nov 29, 2012
11/12
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it's not responsible for the deficit and debts. neither is social security. you're right, medicare and social security have long-term fiscal challenges. they need to be dealt with. i don't agree with connect connecting those to the deficit and debt program not created by those programs. >> i want to switch gears. as a senior member of the house intelligence committee i want to talk about benghazi. let me quote. part of what you said, there should be a laser-like focus on going after those responsible. but in the blur of partisan wrangling over talking points we seem to have lost sight of the vital objective. some on capitol hill and elsewhere seem determined to go after another bright diplomat ambassador susan rice. i want to talk about finding those responsible. the fbi seasonisn't saying much. from what i know we have heard zero about arrests. what can you tell us about these perpetrators? >> well, i can tell you that we still have a lot of work to do. the intelligence community is pursuing all of the leads. there is nothing that i want more. this is true i
it's not responsible for the deficit and debts. neither is social security. you're right, medicare and social security have long-term fiscal challenges. they need to be dealt with. i don't agree with connect connecting those to the deficit and debt program not created by those programs. >> i want to switch gears. as a senior member of the house intelligence committee i want to talk about benghazi. let me quote. part of what you said, there should be a laser-like focus on going after those...
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Dec 1, 2012
12/12
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locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest: some of these are refundable which means you get money back even if your tax bill is zero. whatever the refundable amount is, you get to take home. host: we will go to ray in atlanta, georgia. caller: how much will an individual or can an individual receive who has two children in a single-parent household? what is the maximum amount of money they receive back in the form of tax credits? once you look at that and if there at that dollar level, we're finding their children for free and reduced lunch and i assume adding some additional money for their housing. w
locale raising state and taxes to solve their deficit problems. something to keep in mind when we talk about these detention caps. you could be pushed up against a deduction if you live in new york. if you live in new york and have high state and local taxes, if congress moves forward with a deduction cap, you could go right up to that cap. host: 24% of those were claiming the earned income tax credits. 13% climb in the child tax credit. these credits, you can use them simultaneously. guest:...
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Dec 6, 2012
12/12
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deficit reduction proposal. they spoke to reporters in the capitol for about 10 minutes. >> good morning everyone. you know, this week, we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts and reforms and included additional revenue. and frankly, it was the balanced approach that the president's been asking for. now we need a response from the white house. we can't sit here and negotiate with ourselves. our targets and framework are things that we can all agree on. and it's exactly how we approached our discussions in the biden group, my discussions at the white house a year and a half ago and for that matter, in the joint select committee. and if the president doesn't agree with our proposal and our outline, i think he's got an obligation to send one to the congress. and a plan that can pass both chambers of congress. if you look at the plans that the white house has talked about thus far, they couldn't pass either house of the congress. we are ready and eager
deficit reduction proposal. they spoke to reporters in the capitol for about 10 minutes. >> good morning everyone. you know, this week, we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts and reforms and included additional revenue. and frankly, it was the balanced approach that the president's been asking for. now we need a response from the white house. we can't sit here and negotiate with ourselves. our targets and framework are...
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Dec 4, 2012
12/12
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the goal is to not get rid of the budget deficit. lots of people do not want to get rid of the budget deficit. they want to get it down to a manageable level. opinions differ. you can make a big dent through closing or reducing the loopholes. host: do you expect them to play a role? could they end up on the chopping block? guest: republicans have put them on the table. i think you probably will see some of both. this is a process that will go on for the better part of the next year. during that process, you will see some of both. host: john mckinnon is a reporter for "the wall street journal." here are the numbers to call. republicans, 202-585-3881. democrats, 202-585-3880. independent callers, 202-585- 3882. host: we continue our low-cost at taxables and deductions. curtis dubay is, from the heritage of foundation and charles marra is from the center for budget and policy board reported. thanks to both of you for being here this morning. curtis dubay, how important our deductions? guest: we're so focused on how we can avoid raising
the goal is to not get rid of the budget deficit. lots of people do not want to get rid of the budget deficit. they want to get it down to a manageable level. opinions differ. you can make a big dent through closing or reducing the loopholes. host: do you expect them to play a role? could they end up on the chopping block? guest: republicans have put them on the table. i think you probably will see some of both. this is a process that will go on for the better part of the next year. during that...
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Dec 4, 2012
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it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for having me. martha: so you put your number out there, you know, all kinds of response across the board this morning saying that it is, you know, equally laughable, ridiculous. there's no way that the white house is going to counter that offer. what do you think about that? >> well, i think that's sad, because think about what this president said when he campaigned. he said he wanted a balanced approach. he said he wanted 800 billion in revenue and 800 billion in revenue we provide. we also provide that balanced approach where he wanted two and a half cuts t
it cuts $2.2 trillion from the deficit over ten years. that number also includes entitlement reforms raising the age for social security and medicare and so forth as well as $800 billion that they say they would throw into the pot in new tax revenue that would come from tax reform, from cutting tax loopholes and the like. joined now, very pleased to have with us california republican ken mccarthy, the house majority whip. congressman, welcome. good to see you this morning. >> thanks for...
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Dec 5, 2012
12/12
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reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president referring to that as well. as we continue to get that feedback you can check it out foxnews.com, in the meantime we're going to move onto other news as well. >> reporter: and so let's begin with the violence that is appearing to really spiral out of control. secretary of state hillary clinton says she fears a desperate president bashar al-assad in syria may resort to using chemical weapons on his own people. in the meantime, the united nations is hint thag there wil hinting that there will be no asylum for bashar al-assad as the syrian dictator makes it clear that he will die before leaving th
reduction plan that hits the numbers that are required for us to stabilize our debt and deficits. and -- [. [no audio] kwroe. jenna: we gave it our best shot. sometimes we can't do it. the president speaking at the white house at the business roundtable about the economy. fiscal cliff certainly the issue in the short term for a lot of big businesses and certainly for a lot of american taxpayers. however, long term is another story when it comes to the economy, and entitlements, the president...
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, you're not going to get anywhere in these negotiations or in terms of reducing this $1.1 trillion deficit if you don't do something about these entitlements. so everyone's kind of waiting, when will the president come forward with those? >> if i could just jump in really quick, one of the problems with entitlement cuts is they don't produce a lot of savings in the first ten years. so, if we're going to be obsessively folked on the ratio between revenue and spending, then republicans are going to be in for some disappointment because all the things they want on entitlements basically phase in. this is consistent what they said about not wanting to change things for people over 55. and the fact that even paul ryan and mitt romney ran away from entitlement cuts in paul ryan's budget in the last election i think is a sign of where the american public is. they want the rich to pay their fair share in taxes, but they really don't like a lot of cuts. >> to some extent. >> and erin, look, in response to what you were just saying about the fact these savings don't really kick in for ten years, tha
, you're not going to get anywhere in these negotiations or in terms of reducing this $1.1 trillion deficit if you don't do something about these entitlements. so everyone's kind of waiting, when will the president come forward with those? >> if i could just jump in really quick, one of the problems with entitlement cuts is they don't produce a lot of savings in the first ten years. so, if we're going to be obsessively folked on the ratio between revenue and spending, then republicans are...
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Dec 2, 2012
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we saw this in new jersey where governor christie had 11 billion dollar deficit. he had a fiscal cliff. he knew where the middle road was, and he didn't it. >> he didn't fall off. >> exactly. that's what this president has to do. >> i'm joe smith and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me to lose my entitlements. pat, can that ever work? >> well i think that's what most people think right now. they want the rich to pay more because maybe we should have them pay more. at the same time, they don't want the economy to go in the hole. the other thing is they don't want the country to go broke. what the republicans failed to do is what you're saying. they failed communication case w50eus. wise. they don't hold ban barack baraa accountable. to give himself powers that no president has had, you take that to the country and say you want him deciding he can just spend whatever he wants? >> that's like removing the debt ceiling. >> exactly. >> that's wha
we saw this in new jersey where governor christie had 11 billion dollar deficit. he had a fiscal cliff. he knew where the middle road was, and he didn't it. >> he didn't fall off. >> exactly. that's what this president has to do. >> i'm joe smith and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me to lose my entitlements. pat, can that ever work? >> well i...
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Dec 2, 2012
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we saw this in new jersey, where governor christie, and an $11 billion deficit. he had a fiscal cliff. he brought everybody in. he knew where the middle road was and -- >> he didn't fall off it. >> exactly. >> i'm joe smith. and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me lose my entitlements. pat goodell can that work? >> people want at the rich to pay more because, okay, they should pay more. at the same time they don't want the economy to go in the hole. the other thing is they don't want the country to go broke, and what the republicans fail to do they fail to community indicate. they couldn't communicate themselves out of 0 wet babier bag. they don't hold barack obama accountable. you're the president and should lead on spending. this move of his give himself powers no president has had you take that to the country and say, you want him deciding he can spend whatever he wants. >> like removing the debt ceiling. >> exactly. i'm saying that's th
we saw this in new jersey, where governor christie, and an $11 billion deficit. he had a fiscal cliff. he brought everybody in. he knew where the middle road was and -- >> he didn't fall off it. >> exactly. >> i'm joe smith. and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me lose my entitlements. pat goodell can that work? >> people want at the rich to pay...
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Dec 4, 2012
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this is why medicare down the road adds so much to the federal budget deficit. so republicans say raise the retirement age to 67 or means testing, meaning making more wealthy americans pay more into the system or get less out of the system. if you means test, that means you're paying less out to affluent americans. if you raise the retirement age, you're paying out less as money comes in and keeping the revenue line closer to the cost line. that is the goal. so when you do a 10 or 20-year calculation, medicare is not adding to the deficit. but that's the policy and just as republicans are having a backlash against the speaker saying we don't think we should put tax increases on the table, the democrats and some of the new members in congress, they say they ran promising not to touch medicare. so they say they won't do this. so you have the credibility challenge. republicans say give us entitlement and other spending cuts and the democrats want higher tax rates. that's why we have a stalemate. >>> an internet icon wanted in connection with the killing of his neig
this is why medicare down the road adds so much to the federal budget deficit. so republicans say raise the retirement age to 67 or means testing, meaning making more wealthy americans pay more into the system or get less out of the system. if you means test, that means you're paying less out to affluent americans. if you raise the retirement age, you're paying out less as money comes in and keeping the revenue line closer to the cost line. that is the goal. so when you do a 10 or 20-year...
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we are living with a $16 trillion deficit. so the republicans are going to have to compromise. democrats, white house, they have to come to a mutual agreement where an increase in taxes, a decrease in the amount of benefits that people receive, we need a real major compromise. we hope to god they do that zbleeh. >> heather: will they do it or not do. >> heather: will they do it? >> they no compromise. 50% chance they come to compromise that kicks the football into next year where the new congress will run with it. and possibly, 20% chance that nothing at all happens. we do think they will come up with some kind of temporary solution getting us through december 31. >> heather: we'll see what happens. >> gregg: hottest guessing game in washington. who will fill the critical jobs in the next cabinet. >> and obama administration speaking out plans for israel building new settlements. what it means for the rocky road towards peace. atural gas producs to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring
we are living with a $16 trillion deficit. so the republicans are going to have to compromise. democrats, white house, they have to come to a mutual agreement where an increase in taxes, a decrease in the amount of benefits that people receive, we need a real major compromise. we hope to god they do that zbleeh. >> heather: will they do it or not do. >> heather: will they do it? >> they no compromise. 50% chance they come to compromise that kicks the football into next year...
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Nov 30, 2012
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and if they want to believe that this is the only path that only spending cuts will get them to deficit reduction, they can carry on believing that or get to a place where they're going to get re-elected. >> richard, i think the president is offering a great deal to the republicans. here's why. these guys can go home 98% and say, you know what, 98% of you, i got the tax cuts. i didn't raise your taxes. oh, by the way, my base, you wealthy folks over here, look what obama did to you. he raised your taxes. that's only going to infuriate the wealthy even more. the fact here is is that he has given them something they can campaign on plus they can turn around and say, these are his cuts to medicare, not ours. i don't now why they don't take this deal for the good of the country and come back and fight another day. >> to say democrats are not serious about entitlements, $400 billion of cuts to medicare is a cut to entitlements. that's going to mean hardship for seniors. that's a real cut. now, you can pretend like the hospitals are going to swallow all of that cost cut. they're not. they're
and if they want to believe that this is the only path that only spending cuts will get them to deficit reduction, they can carry on believing that or get to a place where they're going to get re-elected. >> richard, i think the president is offering a great deal to the republicans. here's why. these guys can go home 98% and say, you know what, 98% of you, i got the tax cuts. i didn't raise your taxes. oh, by the way, my base, you wealthy folks over here, look what obama did to you. he...
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Dec 6, 2012
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i think that is not just true for the affect on the deficit, but because the deficit is being monatized at this point in time through quantitative easing it can result in great h greater inflation down the road. he would have thought this is not a time to raise taxes, this is a time to cut government spending. we don't want to have a larger government deficit and this is the course that would lead to the greatest prosperity in the economy. he would not have agreed that if we go over the fiscal cliff that that would have a negative impact on the economy, he would say rather that by bringing the deficit down, by having the prospect of lower inflation in the future, that will be good for interest rates and that would be good for the economy in the coming years. jenna: what would he say to those american citizens, though, that say, listen, over the fiscal cliff, i'm afraid of that, i don't even want to entertain the possibilities of what that would look like. >> i think when it comes to issues such as the extension of unemployment benefits, social security, medicare, freidman would have arg
i think that is not just true for the affect on the deficit, but because the deficit is being monatized at this point in time through quantitative easing it can result in great h greater inflation down the road. he would have thought this is not a time to raise taxes, this is a time to cut government spending. we don't want to have a larger government deficit and this is the course that would lead to the greatest prosperity in the economy. he would not have agreed that if we go over the fiscal...
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road again to fight a republican who points to the ryan budget plan as his compromising answer to the deficit. did i dream that the election ever happened? >> you didn't dream it. let's hope that the amnesia will stay limited to the republican leadership in congress and, listen, i don't think that these guys will be able to sing the same tune once we sort of go off the fiscal curb here because once this discussion changes to do you want to vote for a tax cut for 98% of americans, i think that's where president obama will have more leverage in some of thots discussions. it's a shame we can't move beyond the gridlock. >> but dr. peterson, i have just heard speaker boehner say look at the last two years. look at the ryan budget, which, of course, in neither of the two years received a single vote by democrats. >> well, listen, like joy reid on this network has said, hopefully mr. boehner will be able to sing a different tune once the tea party caucus is more di anyone initiminished an speakership is re-established on january 3rd. my sense is going off the fiscal slope or curve or cliff is probab
road again to fight a republican who points to the ryan budget plan as his compromising answer to the deficit. did i dream that the election ever happened? >> you didn't dream it. let's hope that the amnesia will stay limited to the republican leadership in congress and, listen, i don't think that these guys will be able to sing the same tune once we sort of go off the fiscal curb here because once this discussion changes to do you want to vote for a tax cut for 98% of americans, i think...
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Dec 1, 2012
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deficit reduction and making sure that middle class taxes don't go up. folks agreed to that. now, the good news is we are starting to see a few republics coming around to it too. >> now, house democratic leader nancy pelosi put an even finer point on it today saying flatly, elections have consequences suggesting democrats are not going to give in on their push for higher taxes on the rich. shep. >> shepard: by any measure, ed, the president came in strong, even folks on the left are saying it and john boehner seems very unhappy. >> he is unhappy because he doesn't want to give in on the part about tax hikes for the rich. but also he believes this proposal from treasury secretary tim geithner yesterday really didn't get us anywhere in terms of moving the ball forward. because not just on the tax side but he is basically saying there is no clear cut spending cuts in the eyes of republics so that there is that so-called balanced approach. not just taxes but spending cuts as well. he thinks we are going nowhere fast. here is boehner. >> i took a great risk. and then the white hou
deficit reduction and making sure that middle class taxes don't go up. folks agreed to that. now, the good news is we are starting to see a few republics coming around to it too. >> now, house democratic leader nancy pelosi put an even finer point on it today saying flatly, elections have consequences suggesting democrats are not going to give in on their push for higher taxes on the rich. shep. >> shepard: by any measure, ed, the president came in strong, even folks on the left are...
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budget deficit by over $1 billion over the next five years. . that is unpaid for as well. so again there are many ways that immigration can be looked at to reduce our budget deficit, and many concepts of comprehensive immigration reform, either through fees paid by those who violate the law, penalties paid, increased taxes going forward for those who would have to pay taxes under immigration reform, would actually reduce our deficit, but here we are with a solitary idea around immigration that forces all members of this body to weigh two valuable programs against one another. and at the same time cost taxpayers over $1 billion over the next five years. it's a choice that congress shouldn't face. there are also very legitimate concerns that not only does this bill weigh two valuable programs , but in fact it's a backdoor way to reduce the number of legal immigrants. there should be no hesitation in saying it by reducing the number of legal immigrants we will increase the number of illegal immigrants. so again this bill will likely increase the nu
budget deficit by over $1 billion over the next five years. . that is unpaid for as well. so again there are many ways that immigration can be looked at to reduce our budget deficit, and many concepts of comprehensive immigration reform, either through fees paid by those who violate the law, penalties paid, increased taxes going forward for those who would have to pay taxes under immigration reform, would actually reduce our deficit, but here we are with a solitary idea around immigration that...
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Dec 6, 2012
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all of this deficit reduction stuff, there isn't any. there aren't any spending cuts. >> greta: while democrats and republicans fight it out, the nation is waiting and waiting and waiting and suffering as they wait. former new york city mayor rudy guiliani joins us. good evening, mayor. >> how will this unravel? >> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate with him with a 1.7 trillion dollar tax increase, 50 billion more in stimulus spending, and absolutely no expenditure reductions that are going to take place right now. i mean, from the point of view of republicans, you're going to get more spending decreases if you go over the fiscal cliff than if you deal with president obama. >> greta: well, it appears to many in the city that it's politico check mate for the president. if we go over the fiscal cliff, what it means is the taxes will go up on the wealthy, the big earners. it also goes up on the middle class. i assume
all of this deficit reduction stuff, there isn't any. there aren't any spending cuts. >> greta: while democrats and republicans fight it out, the nation is waiting and waiting and waiting and suffering as they wait. former new york city mayor rudy guiliani joins us. good evening, mayor. >> how will this unravel? >> if you take them at their word, it sounds like the president is anxious to go over the fiscal cliff, and he leaves very little room for republicans to negotiate...
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but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that should be done in private and together. >> and again, though, the ratio between tax increases to spending cuts is a wide, wide gap. medicare and medicaid and social security together, taken with interest and the debt, that's consuming every dime that's coming into washington, d.c., right now. people talk about -- democrats have talked about for a decade, the bush tax cuts. they've driven up the national debt. fine. if that's the case, why is it that the president, as you've said earlier, is embracing 98% of the bush tax cuts? >> except that isn't true. >> of course it's not t
but you've got to be committed to some kind of real deficit reduction. and that's where, beyond the spending, being serious about entitlements, there's got to at least be some framework that says, look, we are going to reduce the size and the scope of government. and that's -- finding that pain point on both sides so it's not a lopsided deal will at least give republicans the room to argue, look, we can take this pain. we've won some concessions back, but we have to do this. >> that...